INDEPENDENT MUNICIPAL AUDITING.
Auditing performed before a transaction is completed and the results thereof recorded in the accounting records is preauditing. This type of auditing is an administrative responsibility and provides for an examination, analysis and review of the component parts of a transaction during the time the transaction is in the making, or at least before it is finally consummated and recorded. Internal check, a second type of internal auditing done before the results or analysis of a transaction are recorded finally, relates to a logical and systematic arrangement of the procedures and methods for analyzing, classifying, processing and recording accounting documents and data. The work of the independent post auditor provides an examination, review, analysis and appraisal of the following after the transactions of the municipality have been analyzed and recorded by its accounting staff. The failure of municipalities to utilize the services of the professional auditors and the comparative low quality of municipal auditing is due in a large measure to the lack of a statement of independent audit standards.
- DOI
- 10.2308/tar-7042482
- Volume
- 17 (4)
- Pages
- 363-370
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref